Indian billionaire becomes second-largest shareholder in Anglo American
Anil Agarwal acquires 11.44% of the mining group with an investment thought to be worth £1.9bn; he does not intend to take a seat on Anglo’s board
London — Indian billionaire Anil Agarwal has become the second largest shareholder in Anglo American after acquiring 11.44% of the British mining group, the group said Thursday. According to a notice posted on the London Stock Exchange, the Volcan Holdings investment company owned by Agarwal’s family now owns 11.44% of the group’s capital and voting rights following Tuesday’s share purchase. It is now the second largest shareholder behind SA’s Public Investment Corporation, which owns more than 13%. Agarwal’s investment is believed to be worth £1.9bn ($2.4bn, €2.2bn). The company’s market capitalisation is about £16.4bn. Volcan also owns mining competitor Vedanta Resources, which specialises in zinc. Last month, Agarwal told the FT Global Commodities Summit that he did not intend to seek a seat on Anglo American’s board. AFP
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